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Odisha aims to implement Rs 1.5 lakh investment proposals in 3 years

Tue, 20th Dec 2016 (Source:Business Standard)

Having drawn a large pool of investments from its roadshows in Mumbai and Bengaluru earlier this year and more recently at the 'Make in Odisha' conclave, the state government has now set its eyes on implementation.

 

At the three events, the state has bagged combined investment intentions exceeding Rs 3.5 lakh crore across sectors - Rs 2.03 lakh crore at the 'Make in Odisha' conclave, Rs 70,959 crore in Mumbai and around Rs 90,000 crore in Bengaluru.

 

Taking stock of the progress in investment proposals, Chief Minister Naveen Patnaik has called for implementation of investments of at least Rs 1.5 lakh crore over the next three years.
 
 

 

To help work out the targeted investments, the state government has decided to constitute committees comprising senior ministers and bureaucrats to oversee the pace of implementation of projects.

 

A five-member inter-ministerial committee will be formed under industries minister Debi Prasad Mishra. The panel will have ministers for steel & mines, energy, forest & environment and MSMEs (micro, small & medium enterprises) as members.

 

At the bureaucratic level, it has been proposed to constitute a task force headed by the chief secretary Aditya Padhi. This task force comprising other senior bureaucrats from key departments will review the status of implementation of the investments proposed in every three months.

 

The focus would be more on 'Ease of Doing Business' reforms to translate intentions into actual investments. Odisha has set a target to draw fresh investments of Rs 2.5 lakh crore by 2025 in its newly identified focus sectors. These sectors - ancillary & downstream industries, electronics manufacturing & IT, apparel & handloom, biotechnology and MSMEs, are expected to help generate three million additional jobs by then.

 

In January 2017, the state industries departments will talk to the interested companies in Mumbai, Bengaluru and Kolkata. The key focus area is apparel manufacturing where the state government is eyeing implementation of projects worth Rs 600 crore, creating 30,000 new jobs.

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